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2003 (3) TMI 94 - HC - Income TaxThe petitioner is a foreign company registered in Italy. The petitioner had entered into contracts with the Neyveli Lignite Corporation, the second respondent. It is claimed that the contracts were on Turnkey basis for implementation of a comprehensive power project for the second respondent. It is the contention of the petitioner that the petitioner is entitled to the benefits under section 44BBB of the Income-tax Act, 1961 - Whether the cancellation of certificate at lower rate is illegal and contrary to the provisions contained in section 197(1) and (2) read with section 44BBB of the Act and is vitiated by non-application of mind and violative of the principles of natural justice? – Held, NO - I do not find any merit in this writ petition which is accordingly dismissed. It is however made clear that no opinion is expressed on the merits of the contentions with regard to the applicability of section 44BBB
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